Feedback Corner

Media Releases

The BSP Statement on the New Generation Philippine Banknotes

12.21.2010

The Bangko Sentral ng Pilipinas welcomes all constructive comments and suggestions concerning our New Generation Philippine Banknotes. We know that our people have been looking forward to the launching of our new banknotes. Afterall, this is our people’s money.

We also know that as in all major undertakings, there will be questions raised, as well as very specific recommendations on how it should be.

We take pride in our newly-designed banknotes that honor Filipinos who played significant roles at various moments of our nation’s history as well as the world heritage sites and iconic natural wonders we are proud of as Filipinos.

On the matter of the map of the Philippines, our banknotes used an artist's rendition or abstraction of the Philippine map that cannot be expected to reflect all of our islands and the precise coordinates of each site. The BSP’s intention is to indicate the general location of the world heritage sites and iconic natural wonders.

On the color of the blue naped parrot highlighted at the reverse of our 500-piso banknote, we are not able to fully reflect the true colors on account of printing limitations. While specialized machines for printing money can imprint security features on our banknotes, it has limited capability for printing colors, unlike machines used to print magazines and books. This is not an error therefore but a function of printing capability limitation.

We wish to inform the public that we have been getting a lot of positive feedback regarding our new generation banknotes. International numismatist Doug Andrews who is a member of numismatic organizations in Canada, the US and the Philippines had this to say: “ I have just seen the new BSP notes, and they are WONDERFUL! Many people – myself included – were eagerly awaiting the release, and the wait was worth it. Probably the media will focus on the beautiful Cory-Ninoy portraits, while numismatists like me will praise the Bank for incorporating many new, state-of-the-art security features. But the other observations I would make are that all the portraits have a unique three-dimensional appearance, and the use of a full-color coat of arms, the new BSP seal, and the outline map of the Philippines are distinctive. My sincere congratulations to your innovative and hard-working designers and engravers. The Bank and the nation can be proud of their new banknotes. That has a value beyond money.”

In the meantime, we want to give focus as well on the new and upgraded security features that we have incorporated on all our new generation banknotes to protect the public from counterfeiters and uphold the integrity of the Philippine banknotes. We shall give you an overview of these security features this afternoon.